Data as of Nov 4, 2026.
GSLC vs GSUS: Differences, Returns & Fees
Over the year to Nov 4, 2026, GSLC returned +13.3% to GSUS's +14.3%; 75% of their weight is in the same names.
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Net assets on Nov 3, 2026: $15.3bn for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF and $3.5bn for Goldman Sachs MarketBeta U.S. Equity ETF.
Pair scorecard
GSUS costs 0.02 points a year less; their one-year returns differ by 1.0 point; GSLC is 4.4 times larger.
| Measure | GSLC | GSUS |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.3% | +14.3% |
| Benchmark | ||
| What it tracks | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index | Solactive GBS United States Large & Mid Cap Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.07% |
| Net assets, as of Nov 3, 2026 | $15.3bn | $3.5bn |
| Holdings | ||
| Holdings in common | 75% | |
| Top ten holdings, share of the fund | 35.2% | 38.3% |
Risk and return
May 22, 2020 to Oct 30, 2026 · 336 weekly returns · each against VOOFrom May 2020 to Oct 2026, GSUS returned more: +180.9% to +161.6%. GSLC swung slightly less: 15.9% to 16.3%. GSLC fell slightly less at its worst: −24.5% to −25.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GSLC | GSUS | VOO | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +161.6% | +180.9% | GSUS | Price change plus distributions, reinvested. | |
| Annualized | +16.0% | +17.3% | GSUS (slight) | Total return as a yearly rate. | |
| Price return | +140.7% | +158.9% | GSUS | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 15.9% | 16.3% | GSLC (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 10.4% | 10.6% | GSLC (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −24.5% | −25.1% | GSLC (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 95.7% | 102.5% | 100.0% | GSUS (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 99.3% | 101.5% | 100.0% | GSLC (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.98 | 1.02 | 1.00 | GSLC lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 1.00 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.82 | 0.87 | GSUS (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.26 | 1.35 | GSUS (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.133 | 0.140 | 0.142 | GSUS (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.65 | 0.69 | GSUS (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | VOO | VOO | VOO | The ETF each fund is measured against. | |
| Alpha | −0.9% a year | −0.2% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.33 | −0.44 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.3% to +0.4% | −1.1% to +0.7% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.64 | 0.04 | GSUS | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.8% | 1.2% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 336 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GSLC and GSUS hold 75% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.
half
75% in common
Only in one fund ↓
Side by side
GSLC and GSUS on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
Client brief:
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GSLC
GSLC tracks an index. Over the year to Nov 4, 2026 it returned +13.3% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings filed for Aug 31, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 426 positions, with the top ten at 35.2%.
GSUS
GSUS tracks an index. Over the year to Nov 4, 2026 it returned +14.3% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.07% a year. By its holdings filed for Aug 31, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 405 positions, with the top ten at 38.3%.
Questions people ask
- Which returned more over the last year, GSLC or GSUS?
- In the year to Nov 4, 2026, with distributions reinvested, GSLC returned +13.3% and GSUS +14.3%.
- Which is cheaper, GSLC or GSUS?
- GSUS is cheaper, by 0.02 percentage points a year. That is about $2 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, GSLC against GSUS, data as of Nov 4, 2026. https://etfiq.com/compare/any/gslc-vs-gsus
ETFIQ. (Nov 4, 2026). GSLC against GSUS. Retrieved from https://etfiq.com/compare/any/gslc-vs-gsus
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